Podcasting Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment and Forecast 2019 - 2029

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Podcasting Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment and Forecast 2019 - 2029

Status : March, 2021 | Technology & Media

Report Digest

Podcasting Market: Outlook

The popularity of podcasts has seen an extraordinary rise. Podcasts ranging across a plethora of categories such as art, entertainment, news, politics, history, and others are attracting a plethora of consumers. Podcasts were first introduced only for iPods but later as the popularity surged, many new players entered the podcasting market and boosted the growth rate.

Based on the rising popularity, rapid internet speed, and rise in subscribers, the global podcasting market may invite massive growth during the forecast period of 2019-2029.

Podcasting Market: Competitive Analysis

The podcasting market has diverse players across numerous countries across the globe. Podcasting platforms are always in the process of crafting good audible content to gain maximum subscribers. The players in the podcasting market increase their subscriptions through offering limited period free trails, discounts, and low per month membership plans. These factors help in nurturing the growth of the podcasting market.

For instance, Amazon recently launched a cheaper monthly subscription plan for access to its audiobooks and podcasting platform, audible. It will offer over 68000 hours of content. Such plans bring immense growth prospects for the podcasting market. Some key players involved in the podcasting market are Pandora Media, Inc., Apple Inc., Soundcloud Limited, Amazon.com, Inc., and Spotify AB.

Podcasting Market: Entry of New Players

The podcasting market attracts tough competition through the entry of novel players in the podcasting market. Some well-established organizations are also entering the podcasting market to strengthen their subscriber numbers. Here are some recent developments regarding new players across the podcasting market.

  • Merriam-Webster, the renowned dictionary publisher recently announced the launch of ‘Word Matters’, a new podcast to discuss new and emerging words and other vocabulary-related topics.
  • Canada-based organization Mucci Farms is launching a podcast known as ‘Spill the Greens’ to create awareness among the consumers about greenhouse operations.
  • Whalerock Industries, a Hollywood-based production and consulting company launched Echoverse, a podcast studio focusing on science fiction and fantasy audio experiences

Podcasting Market: Mergers, Acquisitions, and Collaborations

Mergers, acquisitions, joint ventures, and partnerships form an important part of the growth of the podcasting market. Some recent activities related to mergers, acquisitions, and collaborations are as follows:

  • Stingray recently acquired a 30 percent share in The Podcast Exchange (TPX), a leading podcasting enterprise in Canada.
  • Spotify announced its decision to acquire The Ringer, a popular sports podcast network to increase its influence over sports podcasting.
  • SiriusXM recently announced to buy Sticher, a podcasting firm for $325 mn.

Podcasting Market: Enterprise Podcasting on Rise

The growing influence of enterprise podcasting may garner considerable growth for the podcasting market through the forecast period of 2019-2029. To enable employee engagement, many companies are making use of enterprise podcast. These podcasts are better than sending emails and help to distribute information internally in an efficient manner even during the Work-From-Home mechanism due to the COVID-19 pandemic. This aspect may bring great growth opportunities for the podcasting market.

Podcasting Market: Regional Perspective

North America may serve as the largest growth contributor for the podcasting market during the assessment period of 2019-2029. The growing number of podcast subscribers, especially in the U.S. may help the podcasting market in North America to gain traction. According to the Infinite Dial 2020 survey, 55 percent of the populace in the U.S. has listened to a podcast at least once up from 51 percent in 2019. These statistics display the growing popularity of podcasts across the region.

Asia Pacific may also harness significant growth for the podcasting market. The proliferating demand for podcasts in India and China may bring massive growth. China is second and India is the world’s third-largest podcast market after the U.S. The availability of podcasts in local languages is also fueling the growth of the podcasting market in India, eventually increasing the growth rate of the podcasting market.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?